Affiliate Disclosure
Affiliate Disclosure DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

Forex Today: Chinese Stocks Sell Off

The new week has opened quietly excepting a strong fall in Chinese stock markets driven partly by fears of insufficient Chinese stimulus measures.

  1. So far it has been a very quiet start to the week, with Forex, commodities, and many stock markets barely moving since trading opened in Asia a few hours ago. The exception is the strong decline in Chinese stock markets, with the HSI lower by more than 2%, on fears that recent Chinese stimulus measures will not be enough to achieve the desired bolstering. Most global stock markets outside Asia are in bull markets, but since 2024 began there has been a strong bearish retracement within this trend.
  2. There will be a release today of Swiss CPI (inflation) data, which is expected to show month-on-month deflation of 0.1%. Today will be a key week for inflation as there will also be releases of US and Chinese inflation data.
  3. In the Forex market, the Japanese Yen has been the strongest major currency since the Tokyo open today. The Australian Dollar has been the weakest. There remains a valid long-term bullish trend in the EUR/USD currency pair.
  4. A standout asset in the market right now as 2024 gets underway is Bitcoin which is making a bullish consolidation after reaching a new 20-month high price last week above the round number at $45,000. This bullish consolidation will attract interest from traders, especially trend traders.
  5. In the commodities markets, Cocoa futures stand out as being well established within a long-term bullish trend and are not too far off their highs.
Adam Lemon
About Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.

Most Visited Forex Broker Reviews